P.R. Laws tit. 19, § 2231
(a) General effectiveness.— Except as otherwise provided in the Commercial Transactions Act, a security agreement is effective according to its terms between the parties, against purchasers of the collateral, and against creditors.
(b) Applicable consumer laws and other law.— A transaction subject to this chapter is subject to any applicable rule of law which establishes a different rule for consumers and any other statute or regulation that regulates the rates, charges, agreements, and practices for loans, credit sales, or other extensions of credit.
(c) Other applicable law controls.— In case of conflict between this chapter and a rule of law, statute, or regulation described in subsection (b)of this section, the rule of law, statute, or regulation controls. Failure to comply with a statute or regulation described in subsection (b) of this section has only the effect the statute or regulation specifies.
(d) Further deference to other applicable law.— This chapter does not:
(1) Validate any rate, charge, agreement, or practice that violates a statute, or regulation described in subsection (b) of this section, or
(2) extend the application of the statute, or regulation to a transaction not otherwise subject to it.
History —Sept. 19, 1996, No. 241, added as § 9–201 on Jan. 17, 2012, No. 21, § 11, eff. 1 year after Jan. 17, 2012.